Apple is reportedly all set to become the second largest media company after Disney as they plan to buy Time Warner, the parent company of CNN & HBO.

According to reports from the Financial Times, although the talks are still in the preliminary stage, yet the iPhone maker is all set to delve in the media market, to boost its original content output.

Notably, Eddy Cue, senior VP of Internet Services of Apple, brought up this idea with Olaf Olafsson, Time Warner's head of corporate strategy, back in 2015. However, the discussion was at the preliminary level and Apple's CEO was not informed, according to Mac World.

Although Apple's endeavors were not successful, yet Cue's proposition suggests that Apple is serious about investing in original content. Besides owning HBO, Time Warner owns a lot of other cable channels and also has a stake on different iconic entertainment properties like the Looney Tunes and the Harry Potter.

"For Time Warner-and essentially HBO-to become Apple's original content production assets in some form or another, that would very much help it catch up with the likes of Netflix and Amazon in terms of having potentially quality proprietary content on its platform," James Cordwell, an analyst at Atlantic Securities, told Bloomberg.

Incidentally, Apple is presently seeking new revenue streams to supplement the fall in iPhone sales, which forms 60 percent of total revenue drawn by Apple. Although the iPhone manufacturer is developing new hardware now, yet it is also actively trying to grow its services division.

Moreover, Cue's proposition comes at a time when Apple has been facing issues in licensing its contents for its rumored TV streaming service. The latest news is that Apple's TV service has been delayed infinitely.

Although Apple has already started commissioning original content, yet it is to be seen if they can pull of the media company to boost their media content creation.